Jordan Bags $783m Loans

Jordan is to receive $783mn in loans and grants under new deals signed or approved this month.

The World Bank on 13 March approved a $250mn loan to help ease fiscal strains which have increased with the influx of Syrian refugees and slashed supplies of low-cost Egyptian gas. “Support to Jordan over the last two years, amounting to $700mn in loans and grants, has focused on... medium term budget support and emergency response to the Syrian crisis,” the Bank says, adding that the post-2008 global economic slowdown and post-Arab Spring regional turmoil “have heightened long-term structural vulnerabilities in Jordan.”

The EU on 18 March signed a €180mn ($248mn) “macro-financial assistance package” to “help Jordan weather the severe impact of the regional economic and political crisis” given “external economic shocks, notably related to the conflict in Syria and the disruption in gas imports from Egypt.” The loan will be paid in instalments of €100mn and €80mn, both this year. (CONTINUED - 308 WORDS)

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table Jordan's Latest Loans